Fintech Startups’ 2022 Year in Review

The year 2022 is coming to an end and it promises to be an interesting one for fintech startups. With new products on the market and new partnerships on the horizon, it is a good time to take a look at what the year ahead might hold.


When it comes to startup IPOs, 2023 is a turbulent year. It could see an uptick in IPOs in India, but the overall market downturn is expected to continue. That said, there are some prevailing trends that will help Indian startups continue to gain ground.

A key factor in the fintech investment space is the ability of a business model to become profitable. The message to founders is to meet revenue expectations, but also to meet unit economics expectations.

While the broader macroeconomic environment continues to be sluggish, private equity investors and venture capitalists are starting to regain momentum. As a result, many listed startups have clear timelines for breakeven. In turn, they are able to raise capital. However, this is not the case for every startup.

For instance, BharatPe, a three-year-old payments startup, is now preparing to take the next step. BharatPe plans to add other products, including BharatSwipe, in its second phase. These include a payment acceptance service that relies on QR codes.


Rapyd is a global Fintech-as-a-service firm that enables customers to conduct cross-border transactions. The company has a product portfolio of over 900 services. This includes document verification, banking APIs, and lending. They are also partnering with scores of industry players.

The company’s total payment volume is expected to reach $20 billion this year. That’s four times the volume it had in 2020. In addition to its growth in Asia, Rapyd plans to expand its product offerings to the rest of the world.

Rapyd’s fintech-as-a-service platform offers products and services to help companies enter the market. This includes APIs that allow fintechs to develop their own products. It also helps them comply with all regulations in the country.

Decentro is a startup led by Rapyd Ventures that has built a payments API. The firm also offers lending and a conversational banking experience via WhatsApp.

PayPal is another major player in the industry. The company has been streamlining money movement since 1998. Its focus will be on improving identity management and reducing fraud.


The year 2023 could be a tumultuous one for fintech startups. Consolidation is expected, with many large fintechs entering the valuations league. In addition, regulatory scrutiny has continued to make certain practices unavailable to fintechs. Nonetheless, strong companies will be able to make it through.

In the past few years, we’ve seen several fintech unicorns emerge, including Monzo and Revolut. These companies offer instant payment methods, tax payments, and more. Some of these firms are attempting to enter the lending space as well.

Another fintech startup with plans for global expansion is Razorpay. As the largest payment processor in India, Razorpay serves over 8 million businesses. It also offers a variety of products, including virtual accounts and automated vendor payment solutions.

The company has raised $740 million over the last seven years. Last year, the company was valued at $1 billion. This year, it has increased its valuation to $7.5 billion.

Razorpay has launched a number of new products and services to improve its business. Some of these include its cash advance offering, which is targeted at SMEs in need of cash. Similarly, it has added a feature to its mobile app that saves consumer information during a purchase.


CommonBond announced it would shut down in September. The startup, which powers lending solutions for hundreds of enterprises, focuses on student loan debt management. Its “1-for-1” social mission means every loan, the company funds the education of a child in need.

After raising $1.1B in capital, the startup failed to scale fast enough to survive the market. The company had a strong customer base of more than a million users, but its focus on students only exacerbated issues.

Another major fintech startup, Katerra, filed for bankruptcy in June. In a statement, its CEO cited the loss of financial viability. Meanwhile, Apervita acquired payment administration provider Qcentive.

A number of startups faced problems before the pandemic hit. Some, like Dubai-based e-commerce startup AWOK, were plagued by issues with payments. Others, including Estonia-based askRobin, faced a variety of complications.

Other startups that were shuttered included e-scooter maker Bolt Mobility, food delivery platform Zoomer, and connected wine bottle startup Kuvee. Anki, the San Francisco-based robotic maker, also folded after using up all of its cash.

M1 Finance

In the coming year, fintech startups will face a tumultuous environment. The boom of 2021 has ended, and many of the listed startups have seen a significant decline in stock prices. Several companies are delaying their IPOs. A new wave of consolidation is also expected.

Financial technology has enabled consumers and businesses to save time and money. However, it has raised legitimate concerns. Many regulators have advised fintechs to practice responsible innovation.

Fintechs are a disruptive force in traditional banking. By combining technology with financial services, these companies provide easy-to-use solutions to customers. While some of the largest banks still hold the majority of the market, fintechs are now vying for business.

As the financial industry undergoes consolidation, it’s important to take a look at the companies that are making progress. Aside from the large global fintechs, there are several emerging technologies that are helping to push the sector forward. These include blockchain and mobile technology.


SeedInvest is a business fundraising platform that connects startups with institutional investors and accredited investors. Its aim is to make private equity investments accessible.

SeedInvest has helped over 250 startups raise $410 million in private capital. Most of these are in the tech and consumer-facing industries.

Investors can invest in as many as 25 startups at a time. The minimum investment is usually $1,000, though minimums are lower for non-accredited investors.

Investing in startups can be a risky and high-risk venture. There is no guarantee that the investor will see a return on their money, and it is highly illiquid. You should do your own due diligence, research the companies, and read news reports about them.

SeedInvest has a vetting process that requires users to meet strict criteria. In addition to that, the website offers a live chat box and guides to crowdfunding regulations. Generally, the application approval process can take a couple of days.


If you are one of the many investors looking to invest in the next generation of fintech startups, it’s important to understand how the financial industry is changing. As the technology sector evolves, you will see more companies focusing on spreading wealth.

A major driver of change is machine learning. The use of artificial intelligence can help to reduce operational costs and increase the value provided to clients. It also helps to uncover fraud.

Machine learning is also changing the way fintech companies work. Some firms are taking advantage of the opportunity. For example, TruMid is a “all-to-all” platform that allows buy-side and sell-side users to work together securely.

Another example is Rapyd, a payment gateway that specializes in international card payments. This company has customers such as Ikea. They also enable ecommerce sites to easily localize their site.

In addition to offering a payment solution, TrueLayer connects critical bank data and verification. This fintech platform claims that their system converts 22% more payments than competitors.


The fintech startup scene in NYC is shaping up to be an exciting place to be, thanks to its veterans and a host of emerging companies. These startups are shaking up the fintech world.

For example, a new payment rail called FedNow will give smaller banks a shot at competing with the big boys in the payments space. And the Federal Reserve is getting ready to launch its own real-time payments service.

Another major step in the fintech world is the rise of mobile financial apps. These are allowing consumers to send and accept electronic payments from anywhere. They are also lowering the burden of financial stress.

The largest banking institutions, like Bank of America and Bank of Tokyo-Mitsubishi, have been advancing in the fintech space. However, their efforts have been hindered by macroeconomic uncertainties.

The Reserve Bank of India has been extremely strict when providing NBFC licenses to fintech firms. This has made it harder for these startups to raise capital.


The global fintech industry is at the cusp of a big shift. In the coming years, mobile payments will become the norm and banks and other traditional financial institutions will have to face the onslaught of fintechs that are disrupting the way we do business.

However, it hasn’t been smooth sailing so far. Many fintechs have struggled to raise capital this year. But the good news is that investors seem to be getting cautious. They are hesitant to make big investments in growth stocks. This could mean lower valuations for unlisted startups in 2023.

One promising sign of a bright future is the emergence of collaborative models between regulated entities. This includes payments companies that are looking to expand into the lending space.

Fintechs are also looking to expand their presence in cross-border transactions. For example, Revolut plans to obtain a license in the UK by the end of 2022. Other surging fintechs include Coinbase, which enables businesses to accept cryptos as payment.

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